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The authors previously proposed an improved multiband-structured subband adaptive filter (IMSAF) algorithm. In this contribution, they first present two delayless structures of the IMSAF algorithm to remove delay in the signal path. Then, they study the transient and steady-state behaviour of the IMSAF algorithms based on the energy conservation arguments and paraunitary condition imposed on the analysis and synthesis filter banks. The analysis does not require a model for the input signal. Simulation results show that the proposed delayless IMSAF algorithm has a faster convergence rate than the traditional delayless subband adaptive filtering algorithms. Theoretical analysis of the IMSAF algorithm is in good agreement with computer simulation results.